Topigen Pharmaceuticals Inc, Montreal, a clinical-stage biopharmaceutical company specializing in respiratory disorders, has raised $75 million in funding to expedite clinical trials for TPI 1020, the company’s newest small-molecule COPD drug, and for TPI ASM8, an asthma treatment.
The funding came from a variety of sources including NovaQuest, and BDC Venture Capital, one of Canada’s largest venture capital firms. The investment will accelerate the Phase II clinical programs for both drugs.
Patricia Lamothe, CEO of Topigen, noted that the additional funding was a primary indicator of the high confidence level the various companies backing the research have “in the potential of those products to create a significant breakthrough in the treatment of respiratory diseases."
Ben Cons, vice president of NovaQuest, noted, "Our investment in Topigen further deepens our strategic partnership with the company by helping it develop a portfolio of innovative respiratory drugs. Over the past three years, NovaQuest and Quintiles have provided Topigen with strategic drug development advice alongside the provision of development programs to support the advancement of Topigen’s clinical-stage portfolio.”
Charles Fong, PhD, director of BDC Venture Capital, referred to Topigen as “a leading company in the respiratory field, with two drugs in Phase II development and a management team that consistently delivers against its business plan."